Automotive vehicles, particularly of the van type, often utilize a spare tire carried exteriorly of the vehicle. The spare tire is provided with a decorative split-ring tire cover, generally of metallic construction. Latching mechanisms have been provided for releasably securing together the ends of the split ring tire covers. Such latching mechanisms utilize a bracket secured to one end of the split-ring tire cover. A hooked tongue on such mechanisms releasably engage with one of a plurality of openings formed in the other end of the split-ring tire cover. The tongue is pivotally carried by an elongated latch body which is in turn pivotally carried by the bracket. The latch body and tongue are releasably connected together by a latching lug which extends from the tongue through a slot formed in the latch body, with the lug having a hole which receives a conventional padlock. The utilization of the padlock detracts from the aesthetic appearance of the tire cover. Additionally, the padlock is easily accessible to potential thieves. Another disadvantage of prior art latching mechanisms is that vibration of the padlock produces an annoying rattle. Also, the padlock can be lost when disengaged from the latching mechanism.